Greek Crisis Has No Significant Impact To Indonesia

The Lord Mayor of the City of London, Nick Anstee, assessing the Greek crisis has no significant impact to Indonesia’s economy. “Indonesia is a different market,” Nick said after opening a stock trading at the Indonesia Stock Exchange (BEI) in Jakarta, Monday, May 31, 2010. Assessment was based on gross domestic product growth (gross domestic product / GDP), Indonesia, reaching five percent.

“Private consumption here (Indonesia) is quite good and the people of Indonesia can meet its own needs. So no need to worry,” says Nick.

He admitted that these conditions differ in the United Kingdom. “Our exports to European countries reached 50 percent,” said Nick. That influence, he said, looking from the index shares on the London Stock Exchange could fall. “We are indirectly linked through trade, so it will be influential,” said Nick.

Another effect, he continues, countries will make some adjustments. “People are going to reduce personal consumption, so it will be very uncomfortable, especially for the Greek community,” he said. However, he evaluates the decision of the International Monetary Fund (IMF) and the German agreement to provide assistance to Greece, Ireland, Spain, and Portugal is the right step.

“The market over-reacted against this, that should not be necessary,” said Nick. According to him, the market should build trust.

Visit Nick’s time was part of efforts to introduce financial services in the UK, especially sharia.

“Indonesia is a market with the largest Muslim population in the world and has unique strengths to the international financial community,” he said. Besides Indonesia, on tour this time, Nick also visited Tokyo and Singapore.

Nick said, placed London as an international financial leader by the Financial Progress Report from the World Economic Forum. He added, though capable of overcoming the Asian financial storm, the last two years is a difficult time for business and financial services globally.

“London’s trade and investment relations with the Asian market had long since run. By strengthening these relationships, the global economy can dipuulihkan,” he said.